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Tool Talk Discussion Forum

OT...Furniture Margins....Wife's Goin' Shoppin!

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Scott In Sandpo

08-13-2005 09:23:09




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Howdy all,
This is really off the wall, but maybe some of you can help.

The wife got a bonus check from work and wants to go NEW furniture shopping. I worked in retail/wholesale building materials for a number of years and know what to expect in profit margins for those products, but don't know the furniture industry at all.

She is looking at La-Z-boy, Simmons etc. I assume about a 50 margin which will give me some haggling room, but I need to know a good starting point to get the best deal.

Any ideas?


Scott

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Scott In Sandpoint

08-15-2005 17:15:56




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 Re: OT...Furniture Margins....Wife's Goin' Shoppin in reply to Scott In Sandpoint, 08-13-2005 09:23:09  
Thanks guys!

I figured we were getting screwed buying new stuff, but I'm up against the boss on this one and I like to sleep in the bed.

I'll look around for a GOOD used furniture shop. Antiques would be the way to go, and if I could find some I'd pick them up in a flash!

Scott



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dr.sportster

08-14-2005 10:33:30




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 Re: OT...Furniture Margins....Wife's Goin' Shoppin in reply to Scott In Sandpoint, 08-13-2005 09:23:09  
Wifes theory[kinda makes sense]If you buy antique furniture you have a pretty good product and it may increase in value[maybe,my words]If you buy new you have disposable particle board furniture.Sort of made sense.At least she looks for good deals on the old stuff.



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BobMo

08-13-2005 15:12:58




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 Re: OT...Furniture Margins....Wife's Goin' Shoppin in reply to Scott In Sandpoint, 08-13-2005 09:23:09  
Furniture mark ups run from 100% up. How do you think they are able to give those 60 or 75% off sales.....



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Leland

08-13-2005 22:47:00




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 Re: OT...Furniture Margins....Wife's Goin' Shoppin in reply to BobMo, 08-13-2005 15:12:58  
100% my foot I used to haul broyhill from N.C back to ST Louis aand the store would pay 165.00 per couch off the dock in there store they would put 1100.00 on this thing . So if you can get a large trailer and head for hickory NC you can save bucks in outlet stores



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TomHath

08-14-2005 17:39:42




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 Re: OT...Furniture Margins....Wife's Goin' Shoppin in reply to Leland, 08-13-2005 22:47:00  
Yup. I worked with a woman who saw a bedroom suite she wanted, but didn't want to spend $5000 for it. She saw the exact same suite at another place for $2500.

Having a bit of an attitude, she want back to the first place and gave the salesman an earful; ended up getting the outfit there for $1800 (and I'm sure the store still made a healthy profit).



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jimont

08-13-2005 12:33:11




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 Re: OT...Furniture Margins....Wife's Goin' Shoppin in reply to Scott In Sandpoint, 08-13-2005 09:23:09  
Scott - Don't know if this will work to-day, but when we bought our furniture, we would go into a store about 15 minutes before closing. By far the majority had talked us to the door by closing time - sooooo ooo they weren't really interested in my business. Ended up buying everything from a small shop whose owner stayed open as long as it took to make sure we had chosen the right furniture and we would be happy with it.

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MAC,IL

08-13-2005 10:39:04




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 Re: OT...Furniture Margins....Wife's Goin' Shoppin in reply to Scott In Sandpoint, 08-13-2005 09:23:09  
Yep and if you get a fabulous la-z-boy rebate form, good luck on getting any acknowledgements from them. I been since feb trying to get my rebate check.



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supergrumpy

08-13-2005 10:07:10




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 Re: OT...Furniture Margins....Wife's Goin' Shoppin in reply to Scott In Sandpoint, 08-13-2005 09:23:09  
good luck, furniture is a swindle

bulk of the dealers around here will not haggle, you either pay what they think they should get or you walk

there are some that will haggle or toss something in to sweeten the deal but they are way over-priced to begin with

we started dealing with reputable used furniture places that buy/resell estate furniture, you can get beautiful solid wood pieces for less than what new dealers want for chinese particle board reproductions

several of these people are crooks too but once you find an honest one, you will be very pleased

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farmboysteve

08-13-2005 18:43:56




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 Re: OT...Furniture Margins....Wife's Goin' Shoppin in reply to supergrumpy, 08-13-2005 10:07:10  
we used to be in the unfinished furniture business. mark up was 230 %. cost a lot of money for overhead. mostly rent for a good location.



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